We are proud of our association with MFIN from the time that we were an NBFC-MFI and are pleased to have continued the association even after getting the banking license. At Fincare Small Finance bank, our view is that irrespective of the legal format, a common body governing the entire JLG business is an absolute essential and MFIN has played this role in a very efficient and diligent manner.
It is heartening to see MFIN stepping up advocacy and intervention on sensitive topics like loan waivers, natural calamities etc. We believe that in future, MFIN should consider consolidating its efforts in the areas of a. participation in employee bureaus and b. identification of negative database of ring leaders, in order to further strengthen the microfinance sector.Mr Soham Shukla
Chief Operation Officer – Rural Banking, Fincare Small Finance Bank
MFIN rolled out its Associateship programme in January 2014. This was done with the understanding that stakeholders other than NBFC-MFIs who have a lasting bearing on the financial inclusion dialogue and are of immense value to the sector need to interact and work with each other to fuel the larger goal of financial inclusion. The Associates are a valuable part of MFIN’s construct and there is a constant dialogue with them at various forums including at the state and district levels. MFIN includes the following institutions in its Associateship programme – Banks, NBFCs, Housing Finance Companies, Insurance Companies, Business Correspondents, Private Equity Social Investors, Think Tanks and Foundations.
Associate Subscription Fee
- One time Application Fee : INR 51,000
- Subscription fee Structure
|Associate category||Subscription Fee (INR)|
|Small Finance Banks||10,00,000|
|Banks – All scheduled Commercial Banks (SCBs), State Cooperative Banks an Regional Rural Banks||6,00,000|
|NBFCs – (direct lending)||6,00,000|
|NBFCs – (whole sale)||5,00,000|
|Housing Finance Companies – NHB recognized||5,00,000|
|Private Equity Social Investors – All investors VC/PE funds approved by SEBI||5,00,000|
|Credit Bureaus – RBI recognized||2,00,000|
|Fintech & Telecos Companies||2,00,000|
|DFIs – Domestic and International. Bilateral and multilateral agencies||2,00,000|
|Rating agency – RBI recognized credit rating agencies||1,00,000|
|Think Tanks – National & International think tanks engaged in economic & banking policy issues including financial inclusion||1,00,000|
|Foundations – Domestic & International||1,00,000|
|Banking Correspondents – All recognized BCs of SCBs||1,00,000|
|Reference for Associate Application Form||Download|
List of Associates
- Au Small Finance Bank Ltd.
- Axis Bank
- BASIX Sub-K iTransactions Ltd.
- BSS Microfinance Ltd.
- Buldana Urban Management Services Pvt. Ltd.
- Community Finance Pvt. Ltd.
- Equitas Small Finance Bank Ltd.
- Equirus Capital Services Limited
- Equifax Credit Information Services Pvt. Ltd.
- ESAF Small Finance Bank
- Friends Capital Services Limited
- Fincare Small Finance Bank
- Fullerton India Credit Company Ltd.
- IDFC Bank Ltd.
- Dvara KGFS
- IndusInd Bank Ltd.
- Jana Small Finance Bank
- Kamal Fincap Pvt. Ltd.
- Kotak Mahindra Bank
- L&T Financial Services
- MAS Financial Services Ltd.
- New Opportunity Consultancy Pvt. Ltd.
- Northern Arc Capital Private Ltd.
- RBL Bank
- RBL FinServe Limited
- Reliance Capital Ltd.
- Religare Health Insurance Company Ltd.
- SAGGRAHA Management Services Pvt. Ltd.
- Sampark Fin Services Private Limited
- Sarvodaya Nano Finance Ltd.
- Sumeru Software Solutions
- Suryoday Small Finance Bank Ltd.
- TransUnion CIBIL
- Ujjivan Small Finance Bank
- Utkarsh Small Finance Bank
- Vivriti Capital
- YES Bank